diff --git a/tracker/src/async_semaphore.rs b/tracker/src/async_semaphore.rs
index d2b1571f6d..e7dd859c97 100644
--- a/tracker/src/async_semaphore.rs
+++ b/tracker/src/async_semaphore.rs
@@ -2,7 +2,7 @@
 use std::{future::Future, marker::PhantomData, sync::Arc, task::Poll, time::Instant};
 
 use futures::{future::BoxFuture, FutureExt};
-use metric::{Attributes, DurationHistogram, MakeMetricObserver, U64Gauge};
+use metric::{Attributes, DurationHistogram, MakeMetricObserver, U64Counter, U64Gauge};
 use pin_project::{pin_project, pinned_drop};
 use tokio::sync::{OwnedSemaphorePermit, Semaphore};
 
@@ -14,8 +14,10 @@ pub struct AsyncSemaphoreMetrics {
     permits_acquired: U64Gauge,
     permits_total: U64Gauge,
     permits_pending: U64Gauge,
+    permits_cancelled_while_pending: U64Counter,
     holders_acquired: U64Gauge,
     holders_pending: U64Gauge,
+    holders_cancelled_while_pending: U64Counter,
     acquire_duration: DurationHistogram,
 }
 
@@ -42,6 +44,12 @@ impl AsyncSemaphoreMetrics {
                 "Number of pending permits",
             )
             .recorder(attributes.clone());
+        let permits_cancelled_while_pending = registry
+            .register_metric::<U64Counter>(
+                "iox_async_semaphore_permits_cancelled_while_pending",
+                "Counter for permits that were cancelled while they were waiting for the semaphore.",
+            )
+            .recorder(attributes.clone());
         let holders_acquired = registry
             .register_metric::<U64Gauge>(
                 "iox_async_semaphore_holders_acquired",
@@ -54,6 +62,12 @@ impl AsyncSemaphoreMetrics {
                 "Number of pending semaphore holders. Each holder might have multiple permits",
             )
             .recorder(attributes.clone());
+        let holders_cancelled_while_pending = registry
+            .register_metric::<U64Counter>(
+                "iox_async_semaphore_holders_cancelled_while_pending",
+                "Number of pending semaphore holders that were cancelled while they were waiting for the semaphore. Each holder might have multiple permits",
+            )
+            .recorder(attributes.clone());
         let acquire_duration = registry
             .register_metric::<DurationHistogram>(
                 "iox_async_semaphore_acquire_duration",
@@ -65,8 +79,10 @@ impl AsyncSemaphoreMetrics {
             permits_acquired,
             permits_total,
             permits_pending,
+            permits_cancelled_while_pending,
             holders_acquired,
             holders_pending,
+            holders_cancelled_while_pending,
             acquire_duration,
         }
     }
@@ -77,8 +93,10 @@ impl AsyncSemaphoreMetrics {
             permits_acquired: Default::default(),
             permits_total: Default::default(),
             permits_pending: Default::default(),
+            permits_cancelled_while_pending: Default::default(),
             holders_acquired: Default::default(),
             holders_pending: Default::default(),
+            holders_cancelled_while_pending: Default::default(),
             acquire_duration: DurationHistogram::create(&Default::default()),
         }
     }
@@ -267,6 +285,11 @@ impl<'a> PinnedDrop for InstrumentedAsyncSemaphoreAcquire<'a> {
         if *this.reported_pending {
             this.metrics.permits_pending.dec(*this.n as u64);
             this.metrics.holders_pending.dec(1);
+
+            this.metrics
+                .permits_cancelled_while_pending
+                .inc(*this.n as u64);
+            this.metrics.holders_cancelled_while_pending.inc(1);
         }
     }
 }
@@ -449,11 +472,15 @@ mod tests {
 
         assert_eq!(metrics.holders_pending.fetch(), 0);
         assert_eq!(metrics.permits_pending.fetch(), 0);
+        assert_eq!(metrics.holders_cancelled_while_pending.fetch(), 0);
+        assert_eq!(metrics.permits_cancelled_while_pending.fetch(), 0);
 
         let p1 = semaphore.acquire_many(5).await.unwrap();
 
         assert_eq!(metrics.holders_pending.fetch(), 0);
         assert_eq!(metrics.permits_pending.fetch(), 0);
+        assert_eq!(metrics.holders_cancelled_while_pending.fetch(), 0);
+        assert_eq!(metrics.permits_cancelled_while_pending.fetch(), 0);
 
         {
             let fut = semaphore.acquire_many(6);
@@ -462,12 +489,16 @@ mod tests {
 
             assert_eq!(metrics.holders_pending.fetch(), 1);
             assert_eq!(metrics.permits_pending.fetch(), 6);
+            assert_eq!(metrics.holders_cancelled_while_pending.fetch(), 0);
+            assert_eq!(metrics.permits_cancelled_while_pending.fetch(), 0);
 
             // `fut` is dropped here
         }
 
         assert_eq!(metrics.holders_pending.fetch(), 0);
         assert_eq!(metrics.permits_pending.fetch(), 0);
+        assert_eq!(metrics.holders_cancelled_while_pending.fetch(), 1);
+        assert_eq!(metrics.permits_cancelled_while_pending.fetch(), 6);
 
         {
             let fut = semaphore.acquire_many(6);
@@ -476,6 +507,8 @@ mod tests {
 
             assert_eq!(metrics.holders_pending.fetch(), 1);
             assert_eq!(metrics.permits_pending.fetch(), 6);
+            assert_eq!(metrics.holders_cancelled_while_pending.fetch(), 1);
+            assert_eq!(metrics.permits_cancelled_while_pending.fetch(), 6);
 
             drop(p1);
 
@@ -483,13 +516,17 @@ mod tests {
 
             assert_eq!(metrics.holders_pending.fetch(), 0);
             assert_eq!(metrics.permits_pending.fetch(), 0);
+            assert_eq!(metrics.holders_cancelled_while_pending.fetch(), 1);
+            assert_eq!(metrics.permits_cancelled_while_pending.fetch(), 6);
 
             // `fut` is finally dropped here
         }
 
-        // dropping the future should not decrease the counter a 2nd time
+        // dropping the future should NOT decrease the pending counter a 2nd time and should NOT be considered as "cancelled"
         assert_eq!(metrics.holders_pending.fetch(), 0);
         assert_eq!(metrics.permits_pending.fetch(), 0);
+        assert_eq!(metrics.holders_cancelled_while_pending.fetch(), 1);
+        assert_eq!(metrics.permits_cancelled_while_pending.fetch(), 6);
     }
 
     #[tokio::test]